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Estonia Inflation September 2023

Estonia: Harmonized inflation drops to lowest level since June 2021 in September

Harmonized inflation fell to 3.9% in September from August’s 4.3%. September’s figure represented the lowest inflation rate since June 2021. The reading was largely driven by softer growth in prices for food and non-alcoholic beverages. In addition, price pressures for transportation decreased at a quicker pace. Moreover, prices for recreation grew at a more subdued pace.

Accordingly, annual average harmonized inflation fell to 13.0% in September (August: 14.7%). Meanwhile, consumer price inflation fell to 4.2% in September, from August’s 4.6%.

Lastly, harmonized consumer prices fell 0.06% in September over the previous month, swinging from August’s 0.46% rise.

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